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Nissan says its multi-billion rand investment in its SA plant for the production of the latest version of the Navara pickup will result in the creation of about 1 200 full time jobs.
That’s according to its Group Africa Managing Director Michael Whitfield, who says the cars will be for local and export markets.
Nissan announced the R3bn investment on Wednesday at an event that was also attended by President Cyril Ramaphosa.
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The investment comes on the back of an Investment Summit late in 2018, where various businesses made commitments amounting to R290bn over the next five years.
Of the pledges, some R40bn came from the automative sector.
Speaking at the ceremony, Ramaphosa described the investment as a significant milestone in the country’s investment drive and an “expression of confidence in the South African economy”.
“I am particularly delighted that this project will result in the creation of new jobs,” he said.
Ramaphosa assured the Japan-based firm that the country was “working hard to fix operational challenges at Eskom” to ensure stable electricity supply.
The Presidency said in a statement that it believes that of the pledges made, projects amounting to at least R187bn were already in implementation phase, while those amounting to about R26bn were in the pre-implementation phase.
The key automotive sector, which includes assembly plants for companies like Toyota, BMW and VW employs 110 000 people. It contributes 6.9% to the GDP, accounting for 30.1% of the manufacturing output and 13.9% of total exports, according to government figures.